The Chinese company, which was the only bidder, will be majority shareholder in the company to develop the EUR6.5 billion investment.
Lulache added that the company should file the documentation by September 24, which will materialize by the signing of a letter of intent if it meets the requirements of Nuclerelectrica and the government, and subsequently, they will discuss the partnership terms.
Late August, Nuclearelectrica started procedures to select investors for a project to build two new reactors at the company’s plant in Cernavoda.
The Cernavoda plant, the sole nuclear power facility in Romania, currently operates two 700-megawatt reactors, covering around 20% of the country’s energy consumption. The two new reactors are expected to double the plant’s capacity.
According to the procedure, Romania will cede a 51% interest in the project, but will keep, through Nuclearelectrica, at least 30% in the joint-venture.
Romania’s nuclear power project in Cernavoda was scheduled to kick off in 2010, but was sidetracked due to lack of funds after four of the initial six investors withdrew, citing economic and market uncertainties. The country’s remaining two partners, Italian utility Enel and ArcelorMittal Romania, withdrew from the project in late 2013.
The Romanian government, which owns 81.3% in Nuclearelectrica, said the reactors could be built by Chinese investors. China General Nuclear Power Group and Nuclearelectrica last year signed a letter of intent for investment in and development of two additional nuclear units at the Cernavoda site.